Enter Air: Successful year and robust prospects in 2019

• Enter Air’s revenue in 2018 hit a record-breaking level of PLN 1.3 billion, up 35.7% from PLN 954.9 million in 2017
• Operating profit Increased significantly by 86.9% yoy to PLN 118.9 million
• Net profit grew by 13.5% to PLN 66.3 million, its highest level in the Group’s history
• The SUMMER 2019 season’s commercial program is fully contracted
• 23 aircraft in Enter Air’s fleet

“2018 went according to plan in every respect” says Grzegorz Polaniecki, member of the Enter Air management board. “We drove up revenue and profit, and based upon extensive domestic demand we bolstered our presence in Polish airports during the high season. As international competition subsided, we had a chance to gain an edge in winning contracts during the low season on markets outside Poland. This enabled us to join the ranks of the top players among the European leisure airlines. 2019 started in a very promising fashion and we hope that this year will be even more successful than last year. In turn, the long-term contracts we have signed with tour operators mean that early 2020 is already fully contracted”, Polaniecki added.

With our fleet being fully at our disposal and having optimally planned our commercial program, Enter Air generated 35.7% more sales revenue compared with 2018. For the first time in the Group’s history we surpassed the PLN 1 billion watermark and came in at PLN 1.3 billion which shattered the Groups previous profit records. Net profit soared up by 86.9% to PLN 118.9 million, while the carrier’s 2018 net profit was PLN 66.3 million, up 13.5% from 2017.

Enter Air is now the leader on Poland’s tourism market and the fifth largest charter airline in Europe measured by the number of aircraft. The largest international markets continue to be France, Germany and Scandinavia. Considering the uncertainty related to Brexit the Group has deliberately scaled down its activity on the UK market while retaining the flexibility to ratchet up the number of flights once there is more clarity concerning the UK’s presence in the European Union.

Enter Air collaborates with and has signed long-term contracts with the largest travel agencies in Poland: TUI Poland, Rainbow Tours and Itaka Holdings. In 2018 its client base was extended to include Coral Travel. The value of the contracts with its largest partners for SUMMER 2019 and WINTER 2019/2020 substantially surpasses PLN 1 billion. The enormous demand generated by Polish and European tour operators has enabled the carrier to streamline commercial program planning for the upcoming seasons and align its fleet to the contracted demand.

“The tourism market in Poland continues to be in a state of rapid growth. The economic stability of a large portion of the society is quite positive, thereby providing the ability for many to plan a holiday excursion at least once a year”, says Grzegorz Polaniecki. “Poles are increasingly more willing to travel for their holidays to destinations where they can enjoy guaranteed weather and other indispensable attractions. Greece and Spain are invariably among the most eagerly selected destinations, while Turkey has grown dramatically in the most recent year with Egypt beginning to return to previous levels of demand” he adds.

At present, the carrier has 21 Boeing 737-800 aircraft and two Boeing 737 MAX 8 aircraft which were delivered in December 2018 and January 2019. For the SUMMER 2019 season the carrier also has at its disposal two Boeing 737-800 aircraft, which it has hired under a wet-lease contract from the Slovakian airline Go2Sky as well as two Airbus A320 aircraft from Electra. This fleet will facilitate the successful execution of the commercial program while enabling it to provide highly-profitable charter flights on an ad hoc basis. In Q1 2018 the company’s subsidiary Company, Enter Air Services, launched operations in the field of technical servicing and aircraft maintenance. This means that the Company is largely independent of third-party subcontractors.